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22 November 2024 | 14 replies
In fact, I would bet that 99.9% of all wholesalers could spend the some number of hours working at McDonalds and they would make more money.I recommend you focus on the house hack.
22 November 2024 | 5 replies
Until you spend 20k on paint and some new kitchen appliances, but the roof and foundation are still shot and the 100k ARV is more like 70k in reality.
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20 November 2024 | 0 replies
For context, I’m active in Columbus, Ohio, but I also spend a lot of time in Miami, FL.
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14 November 2024 | 15 replies
There are multiple billion dollar companies dumping money into the city, such as Intel, Google, Honda, and Amazon.
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21 November 2024 | 3 replies
You must spend more than your net selling price.
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27 November 2024 | 48 replies
If you have the time and want to spend the effort then doing it yourself is the way to go.
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19 November 2024 | 0 replies
Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.
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20 November 2024 | 18 replies
Once your unit is rented, where do you end up spending most of your time as an investor/owner?
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21 November 2024 | 7 replies
And yes, it may be a good idea to work for a wholesaler first to get your feet wet.I don't think it's necessary to spend money to get your real estate license first.
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19 November 2024 | 12 replies
To reduce your tax bill, consider qualifying for Real Estate Professional Status (REPS) by spending 750+ hours on real estate activities, which reclassifies losses as non-passive.